Edenred (OTCMKTS:EDNMY) Sees Large Volume Increase - Here's What Happened

Key Points

• Edenred shares saw a large volume spike—about 91,101 shares traded (a 282% increase), with the stock last at $10.48 versus a prior close of $10.16.
• Several analysts revised ratings recently (UBS to Hold, Kepler to Strong-Buy, Zacks to Hold), leaving a MarketBeat consensus of Moderate Buy (1 Strong Buy, 1 Buy, 4 Holds).
• The stock trades near its 50-day moving average ($10.53) and below its 200-day average ($11.25); Edenred is a global leader in prepaid corporate services, including meal vouchers and employee benefits.

Edenred (OTCMKTS:EDNMY - Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 91,101 shares traded hands during trading, an increase of 282% from the previous session's volume of 23,835 shares.The stock last traded at $10.48 and had previously closed at $10.16.

Analysts Set New Price Targets

EDNMY has been the topic of several research analyst reports. UBS Group lowered shares of Edenred from a "strong-buy" rating to a "hold" rating in a report on Friday, January 23rd. Kepler Capital Markets upgraded shares of Edenred to a "strong-buy" rating in a report on Sunday, March 15th. Finally, Zacks Research upgraded shares of Edenred from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Edenred Price Performance

The firm's fifty day moving average is $10.53 and its 200-day moving average is $11.25.

About Edenred

Edenred is a global leader in prepaid corporate services, offering a suite of digital and paper-based solutions designed to enhance employee benefits, streamline expense management and support corporate fleets. The company originated in 1962 as part of the Accor group and was listed as an independent entity on Euronext Paris in 2010. Today, Edenred operates under the Ticket Restaurant® brand, which remains a flagship offering for meal voucher programs, alongside a host of other employee engagement and incentive tools.

The company's core products and services include employee benefits such as meal vouchers, food allowances and leisure gift certificates, as well as incentive and rewards programs that help organizations motivate and recognize their workforce.

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